Kieso, Intermediate Accounting, 16e Help I System Announcements Stellar Company
ID: 2513180 • Letter: K
Question
Kieso, Intermediate Accounting, 16e Help I System Announcements Stellar Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Cost Estimated Item No. Quantity per Unit Selling Price Cost to Complete and Sel 1320 1333 1426 1437 1510 1522 1573 1626 1,400 1,100 1,000 1,200 $3.26 2.75 4.59 3.67 2.30 3.06 1.84 4.79 $4.59 3.47 5.10 3.26 3.32 3.98 2.55 6.12 $1.63 1.02 1.43 1.38 1.43 0.82 1.22 1.53 700 3,200 1,200 From the information above, determine the amount of Stellar Company inventory. The amount of Stellar Company's inventory s Click if you would like to Show Work for this question: Open Show Work / 2 LINK TO TEXTExplanation / Answer
Item no Quantity Cost per unit Estimated selling price Cost of completion and disposal NRV Lower of cost or market Inventory value 1320 1400 3.26 4.59 1.63 2.96 2.96 4144 1333 1100 2.75 3.47 1.02 2.45 2.45 2695 1426 1000 4.59 5.1 1.43 3.67 3.67 3670 1437 1200 3.67 3.26 1.38 1.88 1.88 2256 1510 900 2.3 3.32 1.43 1.89 1.89 1701 1522 700 3.06 3.98 0.82 3.16 3.06 2142 1573 3200 1.84 2.55 1.22 1.33 1.33 4256 1626 1200 4.79 6.12 1.53 4.59 4.59 5508 Total 26372 The amount of stellar company's inventory $26372
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